Years of work and preparation go into launching a project for the marketplace. Even after all that work, there’s still a chance that a product can fail to make a dent. Sometimes, there’s nothing you can do to avoid this fate.
In other instances, this result really arises from poor product management. Luckily, you can learn from where others before you went wrong. There are a number of product management mistakes that you can learn from and avoid in your own work.
What are the major ones that you need to look out for? Read on and we’ll walk you through what you need to know.
1. Following Customer Requests Too Closely
Yes, the customer is always right, as the old business adage goes. However, while they may be right in the big picture, that doesn’t mean they are always right when it comes to the details.
Customers might not actually know what they want or need, they just know when something isn’t working. You can go down a lot of bad paths if you heed their word too much as gospel.
While it may sound appealing to launch a huge amount of time and money into a product that seems like there will be a lot of demand, don’t be surprised when it turns out this hype was all just a lot of talk.
It is, of course, important to keep customers’ wishes in mind. But prioritize them over your own standards and priorities and you might end up with something that leaves no one happy, the customer included.
2. Novelty Is Not Value
One of the most fatal mistakes a product manager can make? Mistaking novelty for value.
Yes, the new and exciting thing on the block can translate to value some of the time. Interest might be generated.
However, it doesn’t always lead to sales.
Just because you can innovate something doesn’t mean that you should. Unless your innovation really is better in all the ways you want it to be, it won’t have legs.
A product that coasts on novelty only will become yesterday’s news in the blink of an eye, especially in today’s short-term attention span economy.
If the best thing you can say about a product is that it is brand new, you might want to return to the drawing board.
3. You Don’t Have to Go It Alone
Many small businesses struggle when it comes to product management. Unlike at a huge corporation, you might not have a whole department, or even a whole position, dedicated to this kind of work.
One mistake many make is thinking their only option is to try to do this kind of complicated work on their own, all while juggling hundreds of other business needs.
This just isn’t true! There are many businesses out there that offer these services and more to entrepreneurs. You just need to know where to look and how much you can budget for this kind of help.
At the end of the day, this is an investment that could be well worth making in the long run.
Serious Product Management Mistakes
There’s a lot of work that goes into releasing a product to the world. However, there needs to be more focus on what not to do just as much as there is on what you should do. Avoiding the above product management mistakes will save you time and money.
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Nicole Ann Pore is a writer, an events host and a voice over artist. Travel, health, shopping, lifestyle and business are among the many subjects she writes about. Through quality and well-researched writing, she informs and even entertains readers about things that matter. She is also interested in film critiquing and filmmaking. Giving all the glory to God, Nicole graduated Cum Laude from De La Salle University Manila, Philippines with a Bachelor’s Degree in Communication Arts.
